A wide variety of transactions, such as banking and payment transactions, are conducted utilizing the Internet. Typically, consumers utilize a user device, such as a personal computer, to interact with an online server that facilitates an online transaction. Various forms of security have been utilized to protect against fraud in online transactions. These conventional security techniques typically involve some form of user authentication and access control, such as the verification of a user name and password, to authenticate a user prior to allowing access to an online application or online functionality.
However, the establishment of authentication requirements and techniques is often dictated by the service provider or application that facilitates and controls the online transactions. Thus, in conventional security systems, a user often has little control over the level of security applied to various online functionality, types of transactions, and/or specific transactions. Additionally, even if a user is permitted to alter a level of security that is applied, the user is often unable to readily determine situations in which increased security is desirable.